Demoulas also called for an end to the public feuding that erupted over the weekend between the company's head honchos, saying through a spokesperson that the matter shouldn't be negotiated in the press.
In a statement issued Sunday evening, a spokesperson said Demoulas is still seeking to purchase the 50.5 percent of the company controlled by shareholders loyal to his cousin, and that Demoulas is willing to pay the asking price those shareholders demanded before the company's finances began to plummet in July.
While the two sides agree on the selling price, Demoulas has been met with counterproposals "laden with onerous terms" that have held up the deal, according to his statement.
On Saturday, shareholders on the opposite side of the table accused Demoulas of negotiating in bad faith, saying they're prepared to sell their majority stake in the company, but Demoulas refuses to agree to terms they deem to be reasonable.
Those shareholders, who are allied with cousin
"We have been advised that it would be irresponsible to make a loan without collateral, interest or a payment schedule, similar to terms that would apply to any traditional bank loan," reads a statement released by the group.
The message followed on the heels of a similar communication Friday from a group of three shareholders calling themselves the "Independent Directors of the Demoulas Board." Those shareholders said they have offered a deal that would allow
A spokesman for
The board's move ignited a firestorm of unrest among the company's estimated 25,000 employees and prompted thousands of customers to boycott the chain's 71 stores in
"On three separate occasions since that time, including as recently as yesterday, Arthur T. has offered in writing and otherwise to try to bring back his entire management team to work to stabilize the company," reads a statement from
In the latest statement Sunday evening, a spokesperson said
The upheaval at Market Basket has lasted for five weeks, prompting calls for a resolution from dozens of
Hassan pleaded last week for the Demoulas Super Markets Board of Directors to reach a "constructive resolution" to the impasse, which is affecting an estimated 8,000 part-time workers in
Managers of the company's stores announced last week that part-time workers will no longer be scheduled to work because of plummeting sales since the dispute began. Hassan encouraged part-time workers to seek jobless benefits while they remain off the job.
Market Basket was also put on notice in July by
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